This blog is a collection on my ramblings on Economics. I plan to write on current economic issues, recent research (sometimes mine, but more often others’), and issues of interest to economists. As I am writing from Turkey, I will try to focus more on the Turkish economy. While I will write in English, I will refer to articles in Turkish and might occasionally invite a guest blogger to write in Turkish. So, apologies for the semi-bilingual nature of the blog if you do not speak Turkish...

But while I am at it, I wanted to illustrate what I mean by saying all banks are equal, but some are more equal than others. As always, a picture is worth more than a hundred words:Int this graph, compliments of Turkey Data Monitor, OMO is a net figure, made up of funding and mop-up.

BTW, I have a message to my readers at the Central Bank: It'd be great if the separate mop-up and funding figures appeared in the Weekly Press Bulletin; it is kind of a hassle to get this data from the Central Bank database (EVDS). If CBT's exit strategiesgo as planned, the data will not ne relevant in a few months, but until then...

I had surprisingly missed it, but maybe that's not very surprising as I haven't had the time for reading (other than the FT) these last few weeks. So thanks a lot for sending that; it sure is quite interesting.

I don't think Roubini has seen it, either- with so much written about him, I don't think he keeps track- otherwise, his associates I regularly talk with would have tipped me off. But I'll make sure he knows of it:)